Singapore's ARA Asset Management is reportedly in discussions with Brookfield Asset Management to acquire the International Finance Center (IFC) Seoul, one of South Korea's largest mixed-use commercial properties. The potential deal follows ARA's purchase of the Conrad Seoul Hotel in August and would include the remaining office towers and retail mall of the IFC complex. Located in Yeouido, Seoul's financial district, the IFC was developed by AIG and acquired by Brookfield in 2016 for about KRW2.55tr (USD1.84bn). ARA has reportedly proposed a valuation exceeding KRW3tr for the three office towers and mall. The firm is also seeking institutional investors for joint ownership. Other global investors, including Blackstone, have shown interest in South Korea's commercial property market, intensifying competition for the asset.